Risk Assessment – Payroll Accuracy

By June 18, 2019Blog

The number 1 mistake migrating to Single Touch Payroll

Many companies rely on their payroll provider and software to make sure their employees pay calculations are correct, only to find out that their payroll system relies on them for data accuracy:

Incorrect Data In, Incorrect Payments Out…

Some sorely find out that they may be liable for costly backpays and possible penalties, accumulating up to 6-years in backpay.

A “YouGov” Galaxy survey of 517 business owners required to comply with the new regulation has found 70% have no idea what’s ahead of them and more than half (55%) have “little knowledge” about how to become compliant. (SmartCompany April 16 2019)

To avoid any penalties for non-compliance – It’s now time for companies to Be aware, Be Prepared and Be Proactive and to have your payroll checked to ensure your employees pay is correct.

Ask Yourself These Quick Questions

In the last 12-months have I checked and reviewed our:

  • Workplace awards that apply to our various staff
  • Employee award classifications and pay levels
  • Allowances are correct and if they are still covered within the agreed rate of pay
  • Employment status – are our casuals still seen as casuals by Fair Work, and do our part time workers have their days and hours written into an agreement
  • Contractors under the ATO & Fair Work tests for sham contracting

If you are unsure about any of these or would like the chance to double check, now is the time!

Business 360 workplace consultants have been working with Advivo clientele, to make sure their payroll data is correct and up to date as part of their Single Touch Payroll Due Diligence.

Business 360 will visit your workplace for an initial discussion around your due diligence needs and workplace questions and can provide information on how they can carry out a review through workplace consultation, award review, pay level and wages check. The team at Business 360 will provide you a report and recommendations for a special Advivo client fee $450 + GST

To take advantage of this offer, let your Advivo contact know or contact the team at Business 360 directly on info@business360pps.com.au or call 07 3108 6791.

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